EquityPandit’s Outlook for TCS for the week (January 11, 2016 – January 15, 2016):

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 0.70%.

As we have mentioned last week that support for the stock lies in the zone of 2350 to 2370. If the stock closes below this levels then the stock can drift to the levels of 2320 where the stock has formed a short term bottom. During the week the stock manages to hit a low of 2341 and bounce to close the week around the levels of 2396.

Support for the stock lies in the zone of 2350 to 2370. If the stock closes below this levels then the stock can drift to the levels of 2320 where the stock has formed a short term bottom.

Resistance for the stock lies in the zone of 2410 to 2420 where short term moving averages are lying. If the stock closes above this levels then the stock can move to the levels of 2450 to 2460 where 500 Daily SMA and 100 Weekly SMA are positioned.

Broad range for the stock in the coming week is seen between 2320 to 2340 on downside to 2420 to 2440 on upside.